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BioMarin Sells Phase III Breast Cancer Drug to Medivation for $570 Million

San Francisco-based Medivation, Inc. (MDVN), and San Rafael, Calif.-based BioMarin Pharmaceutical Inc. (BMRN) announced today that they have signed a deal for Medivation to buy all worldwide rights to talazoparib, formerly called BMN 673, for breast cancer treatment. Medivation will take over all research, development, regulatory and commercial activities.   Medivation will pay BioMarin $410 […]

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Troubled Ariad Leases Almost Half of New HQ to IBM

As the future of Ariad Pharmaceuticals remains in limbo, the company has signed a contract to sublease 41 percent of the new headquarters it built on Binney Street to IBM. Cambridge-based Ariad (Nasdaq: ARIA) disclosed in a regulatory filing today that the computer giant will rent 160,000 square feet of the new building at 75 […]

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Google X’s Life Sciences Becomes First Standalone Company Under Alphabet

On Aug. 20, 2015, Google Inc., soon to become Alphabet, announced on its blog that the first company to stand alone under Alphabet will be Google X’s Life Sciences. Writing on the blog, Sergey Brin, Google co-founder, said, “I am delighted to announce that the life sciences team is now ready to graduate from our […]

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Esperance Pharmaceuticals, Inc. Announces Strategic Alliance With MD Anderson Cancer Center

BATON ROUGE, La., Aug. 24, 2015 /PRNewswire/ — Esperance Pharmaceuticals Inc. today announced that it has entered into a strategic alliance agreement with MD Anderson Cancer Center to accelerate the clinical development of its lead anti-cancer candidate EP-100 for the treatment of ovarian cancer and to collaborate on preclinical studies of EP-100 as a treatment for […]

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China Worries Could Hurt Pharma’s Health

The big worries on growth hanging over the pharmaceuticals industry are poles apart. Pressure on U.S. drug pricing is casting a shadow over the sector’s most lucrative market. But slowing emerging-market growth, notably in China, shouldn’t be ignored. Emerging-market sales for the big pharmaceuticals firms tracked by Sanford C. Bernstein increased by about 5.5%, year […]

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Vital Therapies crashes after liver therapy fails trial

Vital Therapies Inc lost three-quarters of its market value after the company said its liver therapy failed to meet its main goal in a late-stage study, raising doubts about the future of the treatment. The company said it would stop two ongoing studies of the cell-based therapy, which is aimed at treating alcohol-induced liver diseases […]

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Glaxo Sells Drug Rights to Novartis

LONDON— GlaxoSmithKline GSK -3.47 % PLC is selling its remaining rights to a drug for use in treating autoimmune diseases, including multiple sclerosis, to Novartis AG NVS -3.07 % for up to $1 billion, plus royalties. Glaxo said on Friday that Novartis will own rights to ofatumumab, as the drug is known, in all indications. […]

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Samsung Makes First Foray Into U.S. Stock Market

SEOUL—Samsung will make its first entry into U.S. stock markets with an anticipated $1 billion listing of its biotechnology affiliate, according to people familiar with the matter, marking a major step in the South Korean conglomerate’s foray into a new industry outside its better-known electronics business. The listing of Samsung Bioepis Co. on the Nasdaq […]

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Six GlaxoSmithKline Researchers Found Phoundry Pharma

Research Triangle Park, N.C.-based Phoundry Pharmaceuticals, Inc. announced the completion of its first seed financing on Tuesday. The company raised $500,000, led by Pappas Ventures, and is planning a second tranche for another $500,000 in upcoming months, with hopes of moving to a Series A round.   The company was recently founded by six researchers […]

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Valeant Acquires Female Sex Drive Drug Maker Sprout for $1 Billion

Sprout Pharmaceuticals continues to remain atop the news cycles just days after the U.S. Food and Drug Administration (FDA) approved the first female sex-drive drug, Addyi. Today Canadian-based Valeant Pharma (VRX) announced it was acquiring the now Raleigh, N.C.-based company for $1 billion in cash, plus a share of future profits based upon the achievement […]

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